The NGD has proven once again that it values feedback from the NEO community. The organization released its September report today, October 1st. The report template is based on feedback from the community. The report reflects on NGD’s recent positive developments and some of its upcoming events.

Highlights of the September Report

The major highlight of the report is the release of NEO and NEO-CLI 2.9.0. The most important feature of NEO 2.9.0 is the Akka framework which makes use of the Actor model to address the challenges of traditional object-oriented programming in highly concurrent distributed systems.

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Another significant improvement is the packaging of additional features such as plugins “focused on enhancing the safety, stability, and flexibility of NEO nodes.” The plugins which can be installed without having to use difficult commands will minimize manual mistakes and add more convenience to deploying nodes.

The NGD, which was founded in March 2018 by the NEO Foundation, is expanding its team due to the growth the NEO community is experiencing. NGD added one senior software developer, three software developers, a senior quality assurance engineer, two quality assurance engineers, and five associate managers in the NEO ecosystem growth department. Three of the associate managers are based overseas (Switzerland, Korea, and Japan).

The NGD released CNEO and CGAS as a workaround to the difficulty in transferring “global assets (such as NEO or GAS) into smart contracts.” The “C” in CGAS refers to contract. CNEO and CGAS can be exchanged for the global NEO and GAS tokens at a ratio of 1:1.

The NEO Vulnerability and Bounty Program (NEO VBP) is a new program aimed at strengthening NEO’s security structure by rewarding experts who identify and alert NEO of “eligible vulnerabilities” within its network.

Similar bounty programs have been utilized by other blockchain projects, such as EOS. In June, a Dutch bounty hunter made claimed to have made off $120K in a week after he picked up 11 bugs on the EOS platform.

2018 Bear Market Trend and the Impact of Tangible Developments

NEO, which has a current market capitalization of just over $1.2 billion, is currently trading at $18.68 down from $21.45 Sept. 1. This is not a huge drop compared to the likes of Ethereum which dropped from just over $285 to $229 in a similar period. The entire market cap lost $9 billion in the past month. NEO is ranked 14th by market capitalization.

NEO Chart for September. Source: CoinMarketCap.com

The latest positive developments are an indication that blockchain networks are responding to the bear market trend and the overall need for better, secure, and faster blockchain systems. Initially, the price of cryptocurrencies was based on hype, but things appear to be changing.

The market, which is moving towards regulation, now favors projects that are continually updating and upgrading. If NGD’s latest developments are anything to go by, then NEO has the potential to beat the bear trend and keep its head afloat.

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Williams is a fintech journalist with a passion for blockchain technology and its revolutionary applications in finance. He also has a special interest in global politics and economics.

After studying Chemical Engineering, he became a freelance journalist and research analyst and has never looked back. He has written content for several blockchain firms and his work has been published on many crypto news publications.